Greece loosens capital controls, raises cash withdrawal limit

Reuters Staff

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ATHENS, Feb 28 (Reuters) - Greece on Wednesday moved to ease capital restrictions imposed since the summer of 2015, raising the monthly limit of cash that can be withdrawn from bank accounts by 28 percent.

Athens first imposed capital controls in July 2015 to stem a flight of cash from its banks at the height of a debt crisis which led to its third financial bailout since 2010.

Based on a finance ministry decree published in the government’s gazette, individuals will be allowed to withdraw lump sums of up to 2,300 euros in cash per month from bank accounts from 1,800 euros currently, effective from March 1. (Reporting by George Georgiopoulos)